Dr. Niranjan Hiranandani, the Co-Founder and Managing Director of the Hiranandani Group, is a prominent figure in India’s real estate industry and a pioneer in developing mixed-use integrated townships. Often hailed as a visionary, he has not only reshaped the Indian real estate landscape, but also taken on multiple pivotal roles, including National Vice-Chairman of NAREDCO and Chairperson of Mumbai University’s Advisory Council. Driven by a relentless pursuit of excellence, he continues to expand his horizons, venturing into cutting-edge data centers, and logistics and industrial parks
BY JYOTI VERMA
Hailed as the ‘Builder Extraordinaire’ and ‘The Real Estate Czar’ for his visionary prowess, Dr. Niranjan Hiranandani is a man who has not merely glimpsed the future, but actively responded to its evolving demands. The accomplished leader is not only launching innovative realty projects, but has also embarked on a transformative journey to bolster the Indian economy by diversifying in the realms of industrial and logistics parks, energy and data. With his exceptional leadership, unwavering commitment to perfection, and dedication to excellence, he has propelled the Hiranandani Group to unprecedented success. Today, his group’s accomplishments extend far beyond cutting-edge mixed-land use projects in Powai and Thane to state-of-the-art hyperscale data centers in Navi Mumbai and Greater Noida, with proposed liquified natural gas (LNG) terminals in Maharashtra and West Bengal.
A FIRST-GENERATION ENTREPRENEUR
Born in the vibrant city of Mumbai, Dr. Hiranandani hails from a family of Sindhi heritage. His father, Shri Lakhumal Hiranand Hiranandani was a celebrated ENT surgeon and a recipient of the Padma Bhushan Award, the third-highest civilian award in the Republic of India. Hailing from a family of professionals, he imbibed innate qualities like discipline, ambition, integrity, and self-motivation. His academic journey is an integral part of his success story. He completed his schooling from Campion School, Mumbai and graduated with a Bachelor of Commerce Degree (Hons.), earning a distinction as the second-ranking student in Mumbai University. He further bolstered his professional qualifications by completing his C.A. and obtaining a Doctorate in Philosophy titled “Housing Revolution in India: Challenges and Prospects.”
Dr. Hiranandani began his career as an accounting teacher before embarking on his entrepreneurial journey. In 1981, he took a bold step by opening a textile weaving unit in Kandivali, Mumbai. However, his most significant leap came in 1985 when, with the assistance of his brother Surendra, he acquired a sprawling 250 acres of land in Powai. This marked the birth of Hiranandani Gardens, the flagship real estate project of the Hiranandani Group, which pioneered the concept of developing mixed-used integrated townships model with vibrant community living focus.
Along with members of his family, Dr Hiranandani controls the privately owned Hiranandani Group. Today, the Group has diversified into education, healthcare, hospitality, infrastructure, entertainment, and organised retail, with footprints in the newer markets like Panvel, Alibaug, Khandala, Chennai, Ahmedabad, and Pune.
FROM POWAI TO PANVEL
The Hiranandani Group’s commitment to innovation and expansion in real estate continues with its latest project, ‘Golden Willow,’ a premium residential project launched in Panvel, Mumbai in April 2023. The project, involving investment of INR1,000 crore, offers 1 million sq ft of residential space and apartments of one, two and three bedroom, hall, kitchen configurations. Dr. Hiranandani believes this project aligns perfectly with current market dynamics, especially the post-Covid-19 demand for branded luxury homes, and substantial infrastructure development and connectivity improvements in Panvel, including a coastal road, metro rail, multi-modal corridor, and the upcoming Navi Mumbai international airport.
Today, the Hiranandani Group has a diversified portfolio with setting up a new business unit for Data Centre (Yotta) and Logistics and Industrial Parks (GreenBase).
Dr. Hiranandani’s initiative, Greenbase, represents the industrial and logistics parks vertical, offering best-in-class real estate solutions for the industrial, logistics, and warehousing sector. His company has expanded into the realm of data infrastructure with the founding of Yotta Data Services, which set up the world’s second-largest data center, NM1, in Navi Mumbai in July 2020, and North India’s first hyperscale data center, Yotta D1, in Greater Noida in October 2022. These centers have already made substantial progress and formed strategic partnerships with global bodies.
A PHILANTHROPIC FAMILY LEGACY
Dr Hiranandani is not just renowned for its business achievements, but also for its philanthropic endeavours. He has generously contributed to various charitable causes, including education, healthcare, and environmental protection. His philanthropic spirit extends to his investments as well. In November 2022, he invested in Goodfellows, a senior companionship start-up. With the funding, Goodfellows plans to expand its operations in Mumbai and venture into new cities such as Pune, Kolkata, and Bengaluru. Dr Hiranandani has also joined the start-up’s advisory board, recognising the importance of addressing the needs of the elderly in today’s world. His appointment as the Chairperson of the Advisory Council of the University of Mumbai in February 2023 also reflects his dedication to education and community building.